According to a Form D filing, submitted yesterday with the US Securities and Exchange Commission, Mosaic Ventures is aiming to raise $150M for the second fund.

The filing also states that Mosaic intends to incorporate the fund in the Cayman Islands — a popular location for investment funds.

Although, given political upheaval and business uncertainty in the UK on account of Brexit, you do have to wonder whether the decision to incorporate the fund in a British Overseas Territory isn’t at least partly related to the ongoing domestic fog.

We reached out to Mosaic Ventures about its intentions for the second fund but at the time of writing the firm had not responded.